Alstom Projects India Ltd. (ABBAP) : The French parent of
the power plant equipment maker said it will consider
acquisitions and partnerships to expand in India and other
markets in the region. The Indian unit will seek agreements in
wind power equipment and railway cars, Alstom SA Chairman
Patrick Kron said in New Delhi. Shares of the company declined
2.6 percent to 592.00 rupees.

Bharti Airtel Ltd. (BHARTI) : The nation’s largest
mobile-phone operator was raised to “overweight” from
“neutral” by Rajiv Sharma, an analyst at HSBC Holdings Plc.
with a price estimate of 425 rupees per share. The shares
climbed 0.2 percent to 362.45 rupees.

EIH Ltd. (EIH) : The owner of luxury hotel chains said
Chairman Prithvi Raj Singh Oberoi has no plans to step down or
retire. EIH made the comments in a statement issued at a press
conference in New Delhi yesterday. Shares of the company
advanced 1.1 percent to 88 rupees.

Essar Oil Ltd. (ESOIL IN): The operator of India’s second-
largest non-state crude oil refinery is looking to buy oil and
natural gas areas outside India and is evaluating a number of
opportunities, Chief Executive Officer Naresh Nayyar said on a
conference call April 11.

Separately, the company was raised to “outperform” from
“neutral” at Credit Suisse Group AG, which cited the impending
completion of a refinery upgrade. The brokerage increased its
share-price forecast to 174 rupees from 155 rupees, analysts led
by Sanjay Mookim wrote in a report. The shares dropped 3 percent
to 135.75 rupees.

Gail India Ltd. (GAIL) : The state-run natural gas
supplier is in talks to buy a stake of about 20 percent in two
shale gas assets, Eagle Ford shale and Barnett shale, in the
U.S., the Business Standard newspaper reported yesterday, citing
unidentified company executives. The transaction may be worth
more than 10 billion rupees ($225 million), the report said.
Shares of the company fell 1.5 percent to 464.20 rupees.

IVRCL Infrastructures & Projects Ltd. (IVRC) : The
construction company that counts Norway’s sovereign fund among
its investors is targeting 25 percent of its sales from overseas
in three years as growth at home slows. The builder of road,
water and irrigation networks expects 100 million rupees ($2.3
million), or about 1.4 percent of its sales, from abroad in the
year ended March 31, Chairman E. Sudhir Reddy said. The shares
plunged 5.4 percent to 86.55 rupees.

Reliance Industries Ltd. (RIL) : India’s biggest company
by market value is producing 50 million cubic meters of natural
gas a day from the nation’s largest area, a person with direct
knowledge of the matter said. The shares declined 1.8 percent to
1,005.30 rupees.

Sun Pharmaceutical Industries Ltd. (SUNP) : India’s
largest drugmaker by market value signed a joint venture
agreement with Merck & Co., the second-biggest U.S. drugmaker,
to manufacture and market generic medicines in the emerging
markets, Adam Schechter, vice president of the U.S.-based
company, said in Mumbai April 11. The Indian company’s shares
rose 2 percent to 450.40 rupees.